Mentha oil prices spurted further by 3.42 per cent to Rs 1,374.50 per kg in futures trade today as speculators engaged in enlarging their positions, tracking a firm trend at spot market on surging demand.
At the Multi Commodity Exchange, mentha oil for delivery in March jumped up by Rs 45.40, or 3.42 per cent to Rs 1,374.50 per kg in business turnover of 295 lots.
In a similar fashion, the oil for delivery in April advanced by Rs 12.50, or 0.96 per cent to Rs 1,312 per kg in 426 lots.
Marketmen said widening of positions by participants, taking positive cues from spot market on soaring demand from consuming industries in the physical market, mainly kept menth oil prices higher at fuures trade.
Tight stocks position on fall in arrivals from Chandausi in Uttar Pradesh,too fuelled the uptrend, they said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
